The sanctions imposed by the US Treasury Department on the Arctic LNG 2 project are viewed by many as a measure of the professionalism demonstrated by the Novatek gas company in its implementation. This interpretation came from the head of the Russian organisation, Leonid Mikhelson, during discussions at a major international forum. The remarks were reported by the agency on location at the Verona Eurasian Economic Forum held in Samarkand, Uzbekistan, from November 3 to November 4.
When asked about the decision by the American government, Mikhelson said that sanctions against the company should be understood as an assessment of its capabilities and expertise to operate in a global energy market. He framed the move as a test rather than a setback, suggesting that such measures reflect the level of professional execution behind the project.
On November 2, Washington broadened its sanctions lists to include approximately 40 individuals and several entities connected to Moscow. The new restrictions specifically targeted major financial institutions and other entities operating within the Russian financial system. The action extended to the Arctic LNG 2 LLC and a number of related financial market components, with sources indicating that the St. Petersburg Stock Exchange was among those added to the sanctions lists. These steps effectively curtail access to the dollar system and restrict cooperation with the United States in various sectors.
That same day, First Deputy Chairman of the State Duma Committee on International Relations Alexey Chepa offered a perspective on the Western measures. He stated that the sanctions show little to no tangible benefits for foreign economies in his view. In a commentary to a local publication, the parliamentarian expressed confusion over the sheer volume of restrictions now placed on the country, highlighting the sense that the breadth of measures has become overwhelming for many observers.
Earlier, officials in the Russian government described Western restrictions in stark terms, with a prominent figure characterizing them as very harsh measures aimed at shaping policy outcomes through economic pressure. The conversation around these sanctions has continued to evolve as global responses and domestic assessments develop in parallel, with analysts and policymakers weighing the strategic implications for energy projects that involve international financing and cross-border collaboration. [Citation attribution: official statements and media reports]